Classic Scenic Acquired RM12.5 Million of New Manufacturing Plant in Bidor

Classic Scenic Berhad’s wholly-owned primary subsidiary, Finesse Moulding has successfully completed the acquisition of a new wooden picture frames and mouldings manufacturing plant located in Bidor, Perak.

Finesse Moulding is a wooden picture frame and mouldings manufacturer and exporter.

The new plant was acquired from Ve Surpass Frame (M) Sdn Bhd for a cash consideration of RM12.5 million. The acquisition of the new manufacturing plant consists of 4 parcels of leasehold industrial land with a total land area of approximately 520,000 square feet with a manufacturing plant erected on the land. It was funded through the Group’s internally-generated funds.

In a released press statement, CScenic managing director Samuel Lim Chee Beng said, “The new manufacturing plant in Bidor, Perak, does not only increase the Group’s installed capacity instantly from the current level of 32 million feet to 48 million feet per annum which will accelerate our business growth in wooden picture frames and moulding, but it would also enable the Group to expand into upstream activities with its existing sawmilling”.

“The Group intends to allocate RM2 million in capex for the upgrading of the manufacturing plant facilities and the acquisition of new wood-working machineries and equipment. The new manufacturing plant is expected to contribute positively to the Group’s earnings,” he added.

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